https://www.finova.in/
| Sector: | Finance |
|---|
| Entry year: | 2022 |
|---|
| Fund: | Maj Invest Financial Inclusion Fund III K/S |
|---|
| Ownership: | 5.2% |
|---|
| Other shareholders: | Sequoia, Faering, Wells Fargo, Promoter group |
|---|
| CEO: | Mohit Sahney |
|---|
| Chairman: | - |
|---|
| Maj Invest contact: | David Paradiso |
|---|
| Revenue: | USD 20.5m |
|---|
| EBITDA: | USD 13.3m |
|---|
| Employees: | 1427 |
|---|
Business model
The company is a regulated Non-Bank Finance Company (NBFC), focused on reducing the country’s credit gap for the segment of small enterprises by financing small enterprises with 10-20 employees engaged in income-generating activities. The company provides fully secured loans with an average ticket size around USD 5,500. In India, there is a huge addressable market with the credit gap to small enterprises estimated at over USD 200bn. Finova has a secured lending model and tight underwriting standards that leverage technology in the credit assessment and loan management process.
